As predicted, the
price has bounced off the resistance turned support area near the
$97.50/share level, which is also right at the 50 simple moving average
support.
Apple Stock Forecast
Apart from the iPhone 6 and iPhone 6 Plus announcement, Apple stock is
drawing a lot of support from the Apple Watch and the new payment scheme
introduced. Some industry experts predict that this might pave the way
for revolutionary changes in the mobile and online payment sector, which
might weigh on shares of Ebay and PayPal.
Bear in mind that the volatile reaction to the keynote address has been
witnessed in past instances and is often followed by a strong bull run
for Apple stock. Risk sentiment appears to favor more gains, although US
equities might be in for a bit of weakness if geopolitical tension
persists.
